Latest news with #MarioCordero
Yahoo
4 days ago
- Business
- Yahoo
In Depth: Long Beach Green Port
Hal talks to Mario Cordero, the CEO of the port of Long Beach about the progress that has been made in the past 20 years since he made the commitment to making the port a "green port." Cordero says that while there is a ways to go before the port is at zero emissions, that it has come a long way. He credits innovations that have allowed the port to transition to electrical power in its trucks, cranes and rail lines as well as shore power. Manager of Air Quality Practices, Leela Rao explains to Hal how the port monitors emissions and posts it on their website in real time for public awareness. Otis Cliatt II joins Hal to talk about the Joule, the electric train that runs on the Pacific Harbor Line, which, in addition to the alternative fuel locomotives, is vastly reducing emissions. Cordero returns in segment three as we take a tour of the Port on a boat to see the new infrastructure and discuss the impact of recent political policy changes, such as tariffs and how they are affecting traffic at the Port and making it challenging for companies to plan for imports and orders.
Yahoo
16-05-2025
- Business
- Yahoo
Long Beach sees record TEUs on trade war effect
The Port of Long Beach, California, marked its strongest April on record, handling 867,493 twenty-foot equivalent units, a 15.6% increase compared to the same month a year ago. Volumes surpassed the previous record set in April 2022 by 5.7% at the hub. Imports rose significantly to 419,828 TEUs, representing a 15.1% increase y/y, while exports declined by 4.5% to 93,842 TEUs. Empty containers saw the most dramatic change, jumping 23% to 353,824 TEUs, as demand for boxes moving out of Chinese ports dropped amid the de facto trade embargo. Carriers blanked dozens of eastbound trans-Pacific sailings and moved some ships to higher-volume trade lanes. The April performance extends to 11 the number of consecutive months of cargo increases at the port, which along with Los Angeles makes up the San Pedro complex, the busiest U.S. import container the record, the port is bracing for a substantial decline in cargo volume for May. Officials anticipate a significant drop in imports, primarily attributed to tariffs — and retaliatory tariffs — between China and the U.S. that were paused earlier this month. Port of Long Beach Chief Executive Mario Cordero in a release said: 'After moving the most containerized cargo of any American port in the first quarter of 2025, we are now anticipating a more than 10% drop-off in imports in May – and the effects will be felt beyond the docks. Soon, consumers could find fewer choices and higher prices on store shelves and the job market could see impacts, given the continuing uncertainty.' Year-to-date performance remains strong, with the port handling 3,403,069 TEUs during the first four months of 2025, a 23.6% increase from the same period in 2024. This overall growth provides some cushion against the expected May 'air pocket.'Find more articles by Stuart Chirls expects swift China ramp-up after bookings jump 50% Tariff two-step: After pause, China-US container traffic increases Maersk looks to fill up corridors in a flash (sale) Pause and effect: Container rates await new demand The post Long Beach sees record TEUs on trade war effect appeared first on FreightWaves.
CNN
10-05-2025
- Business
- CNN
Zero ships from China are bound for California's top ports. Officials haven't seen that since the pandemic
On Friday morning, West Coast port officials told CNN about a startling sight: Not a single cargo vessel had left China with goods for the two major West Coast ports in the past 12 hours. That hasn't happened since the pandemic. Six days ago, 41 vessels were scheduled to depart China for the San Pedro Bay Complex, which encompasses both the Port of Los Angeles and Port of Long Beach in California. On Friday, it was zero. President Donald Trump's trade war imposed massive tariffs on most Chinese imports last month. That's led to fewer ships at sea carrying less cargo to America's ports. For many businesses, it is now too expensive to do business with China, one of America's most important trading partners. Officials are concerned not just about the lack of vessels leaving China, but the speed at which that number dropped. 'That's cause for alarm,' said Mario Cordero, the CEO of the Port of Long Beach. 'We are now seeing numbers in excess of what we witnessed in the pandemic' for cancellations and fewer vessel arrivals. The busiest ports in the country are experiencing steep declines in cargo. The Port of Long Beach is seeing a 35-40% drop compared to normal cargo volume. The Port of Los Angeles had a 31% drop in volume this week, and the Port of New York and Jersey says it's also bracing for a slowdown. On Wednesday, the Port of Seattle said it had zero container ships in the port, another anomaly that hasn't happened since the pandemic. 'That's because just nothing is being shipped over,' port commissioner Ryan Calkins told CNN's Kaitlan Collins. US and Chinese trade representatives are set to meet in Geneva this weekend for their first face to face meeting in an attempt to deescalate the trade war. Most goods shipping from China to the United States have a 145% tariff, while most US exports to China are being hit with a 125% tariff. On Friday, President Donald Trump suggested lowering the tariff rate with China to 80%, but said the final terms would be up to Treasury Secretary Scott Bessent. For consumers, who are facing higher prices or shortages of certain items, Cordero says a deal can't come soon enough. 'If things don't change quickly, I'm talking about the uncertainty that we're seeing, then we may be seeing empty products on the shelves. This is now going to be felt by the consumer in the coming 30 days,' said Cordero. Upwards of 63% of the cargo that flows into the Port of Long Beach is from China — the largest share of any US port. But that number is down from 72% in 2016 as retailers shift away from China over simmering trade tensions. Even so, China still represents a major source of imports into the United States. Maersk, the second largest shipping line in the world, told CNN the cargo volume between the United States and China has fallen by 30-40% compared to normal. 'If we don't start to see a de-escalation of the situation with China, if we don't start to see more of those trade deals, then we could be in a situation where some of these effects get more entrenched and are more adverse,' said Maersk CEO Vincent Clerc. –CNN's Maisie Linford contributed to this report
Yahoo
10-05-2025
- Business
- Yahoo
Zero ships from China are bound for California's top ports. Officials haven't seen that since the pandemic
On Friday morning, West Coast port officials told CNN about a startling sight: Not a single cargo vessel had left China with goods for the two major West Coast ports in the past 12 hours. That hasn't happened since the pandemic. Six days ago, 41 vessels were scheduled to depart China for the San Pedro Bay Complex, which encompasses both the Port of Los Angeles and Port of Long Beach in California. On Friday, it was zero. President Donald Trump's trade war imposed massive tariffs on most Chinese imports last month. That's led to fewer ships at sea carrying less cargo to America's ports. For many businesses, it is now too expensive to do business with China, one of America's most important trading partners. Officials are concerned not just about the lack of vessels leaving China, but the speed at which that number dropped. 'That's cause for alarm,' said Mario Cordero, the CEO of the Port of Long Beach. 'We are now seeing numbers in excess of what we witnessed in the pandemic' for cancellations and fewer vessel arrivals. The busiest ports in the country are experiencing steep declines in cargo. The Port of Long Beach is seeing a 35-40% drop compared to normal cargo volume. The Port of Los Angeles had a 31% drop in volume this week, and the Port of New York and Jersey says it's also bracing for a slowdown. On Wednesday, the Port of Seattle said it had zero container ships in the port, another anomaly that hasn't happened since the pandemic. 'That's because just nothing is being shipped over,' port commissioner Ryan Calkins told CNN's Kaitlan Collins. US and Chinese trade representatives are set to meet in Geneva this weekend for their first face to face meeting in an attempt to deescalate the trade war. Most goods shipping from China to the United States have a 145% tariff, while most US exports to China are being hit with a 125% tariff. On Friday, President Donald Trump suggested lowering the tariff rate with China to 80%, but said the final terms would be up to Treasury Secretary Scott Bessent. For consumers, who are facing higher prices or shortages of certain items, Cordero says a deal can't come soon enough. 'If things don't change quickly, I'm talking about the uncertainty that we're seeing, then we may be seeing empty products on the shelves. This is now going to be felt by the consumer in the coming 30 days,' said Cordero. Upwards of 63% of the cargo that flows into the Port of Long Beach is from China — the largest share of any US port. But that number is down from 72% in 2016 as retailers shift away from China over simmering trade tensions. Even so, China still represents a major source of imports into the United States. Maersk, the second largest shipping line in the world, told CNN the cargo volume between the United States and China has fallen by 30-40% compared to normal. 'If we don't start to see a de-escalation of the situation with China, if we don't start to see more of those trade deals, then we could be in a situation where some of these effects get more entrenched and are more adverse,' said Maersk CEO Vincent Clerc. –CNN's Maisie Linford contributed to this report
Yahoo
10-05-2025
- Business
- Yahoo
Zero ships from China are bound for California's top ports. Officials haven't seen that since the pandemic
On Friday morning, West Coast port officials told CNN about a startling sight: Not a single cargo vessel had left China with goods for the two major West Coast ports in the past 12 hours. That hasn't happened since the pandemic. Six days ago, 41 vessels were scheduled to depart China for the San Pedro Bay Complex, which encompasses both the Port of Los Angeles and Port of Long Beach in California. On Friday, it was zero. President Donald Trump's trade war imposed massive tariffs on most Chinese imports last month. That's led to fewer ships at sea carrying less cargo to America's ports. For many businesses, it is now too expensive to do business with China, one of America's most important trading partners. Officials are concerned not just about the lack of vessels leaving China, but the speed at which that number dropped. 'That's cause for alarm,' said Mario Cordero, the CEO of the Port of Long Beach. 'We are now seeing numbers in excess of what we witnessed in the pandemic' for cancellations and fewer vessel arrivals. The busiest ports in the country are experiencing steep declines in cargo. The Port of Long Beach is seeing a 35-40% drop compared to normal cargo volume. The Port of Los Angeles had a 31% drop in volume this week, and the Port of New York and Jersey says it's also bracing for a slowdown. On Wednesday, the Port of Seattle said it had zero container ships in the port, another anomaly that hasn't happened since the pandemic. 'That's because just nothing is being shipped over,' port commissioner Ryan Calkins told CNN's Kaitlan Collins. US and Chinese trade representatives are set to meet in Geneva this weekend for their first face to face meeting in an attempt to deescalate the trade war. Most goods shipping from China to the United States have a 145% tariff, while most US exports to China are being hit with a 125% tariff. On Friday, President Donald Trump suggested lowering the tariff rate with China to 80%, but said the final terms would be up to Treasury Secretary Scott Bessent. For consumers, who are facing higher prices or shortages of certain items, Cordero says a deal can't come soon enough. 'If things don't change quickly, I'm talking about the uncertainty that we're seeing, then we may be seeing empty products on the shelves. This is now going to be felt by the consumer in the coming 30 days,' said Cordero. Upwards of 63% of the cargo that flows into the Port of Long Beach is from China — the largest share of any US port. But that number is down from 72% in 2016 as retailers shift away from China over simmering trade tensions. Even so, China still represents a major source of imports into the United States. Maersk, the second largest shipping line in the world, told CNN the cargo volume between the United States and China has fallen by 30-40% compared to normal. 'If we don't start to see a de-escalation of the situation with China, if we don't start to see more of those trade deals, then we could be in a situation where some of these effects get more entrenched and are more adverse,' said Maersk CEO Vincent Clerc. –CNN's Maisie Linford contributed to this report
